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Daily Forex Technical Analysis Report - November 23, 2020

Let's review all the major instrument analysis including: #audusd #eurusd #gbpusd #usdcad #usdjpy #gold #xauusd

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Daily Forex Technical Analysis Report - November 23, 2020

  1. 1. +1 7754 366 970 analysis@tpglobalfx.com REPORTFROM:TPGLOBALFX 23 November, 2020 Daily Analysis Report
  2. 2. +1 7754 366 970 analysis@tpglobalfx.com Asian Bulle n: Kiwi rises sharply on robust retail sales data, hits highest level since Dec 2018; Asian stock markets in green; gold hovers around $1,870 mark Asian Headlines: • Japanese banks will be closed in observance of Labor Thanksgiving Day. • New Zealand retail sales stand at 28.0 vs -14.8 previous release. • New Zealand Core retail sales stand at 24.1 vs -13.7 previous release. • Australia manufacturing PMI stands at 56.1 vs 54.2 previous release. • Australia services PMI stands at 54.9 vs 53.7 previous release. Economic Data Ahead: • (0815 GMT/1345 IST) France flash services PMI, previous 46.5, expected 39.2. • (0815 GMT/1345 IST) France flash manufacturing PMI, previous 51.3, expected 50.2. • (0830 GMT/1400 IST) German flash services PMI, previous 49.5, expected 46.1. • (0830 GMT/1400 IST) German flash manufacturing PMI, previous 58.2, expected 56.0. • (0900 GMT/1430 IST) Euro flash services PMI, previous 46.9, expected 42.2. • (0900 GMT/1430 IST) Euro flash manufacturing PMI, previous 54.8, expected 53.2. • (0930 GMT/1500 IST) U.K. flash services PMI, previous 51.4, expected 43.2. • (0930 GMT/1500 IST) U.K. flash manufacturing PMI, previous 53.7, expected 50.5. • (1445 GMT/2015 IST) U.S. flash services PMI, previous 56.9, expected 55.8. • (1445 GMT/2015 IST) U.S. flash manufacturing PMI, previous 53.4, expected 52.5. Economic Events Ahead: • (1530 GMT/2100 IST) U.K. Monetary Policy Report Hearings. Major FX Pair Trend: USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.13% to 92.27 points. USD/JPY: The Japanese yen trades flat as Japanese banks will be closed in observance of Labor Thanksgiving Day. A sustained close above 103.82 will take the parity higher towards key resistance around 104.20, 104.60, 105.22, 105.64, 105.92, 106.22 and 106.76 mark respec vely. On the other side, a consistent close below 103.73 will drag the parity down towards 103.65, 103.50, 103.17 and 102.80 marks respec vely. AUD/USD: The Aussie rises in early Asia a er robust PMI data. The pair made intraday high at $0.7327 and low at $0.7299 marks. On the top side key resistances are seen at $0.7347, $0.7376, $0.74 and $0.7426 mark respec vely. On the other hand, a consistent close below $0.7298 will take the parity down towards key supports around $0.7270, $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respec vely. NZD/USD: The Kiwi strengthens on Monday and hits highest level Since Dec 03, 2018. Pair made intraday high at $0.6969 and low at $0.6923 mark. Key resistances are seen at $0.6969, $0.7002, $0.7047 and $0.7082 mark respec vely. Alterna vely, a consistent close below $0.6890 will drag the parity down towards key supports around $0.6850, $0.6783, $0.6750, $0.6690, $0.6610, $0.6578, $0.6527 and $0.6499 mark respec vely. USD/INR: The Indian rupee exhibits range bound movement and stabilizes above 74.00 mark. The pair made intraday high at 74.16 and low at 73.99 marks. A sustained close below 74.22 marks will drag the parity down towards 73.90, 73.57, 73.20, 72.87, 72.65, 72.40 and 72.12 mark respec vely. On the top side key resistances are seen at 74.40, 74.65, 75.02, 75.27, 75.39 and 75.62 marks respec vely. EUR/USD: The euro trades marginally higher ahead of services PMI and Manufacturing PMI data. The pair made intraday high at $1.1878 and low at $1.1850 mark. A sustained close above $1.1873 tests key resistances at $1.1890, $1.1936, $1.1975, $1.2022, $1.2047, $1.2082 and $1.2120 mark respec vely. On the other side, a sustained close below $1.1852 will target key supports around $1.1802, $1.1770, $1.1740, $1.1672, $1.1640, $1.1590, $1.1540 and $1.1526 marks respec vely. GBP/USD: The pound starts a new week on posi ve note and hits fresh 2 – month high at $1.3327 mark. Today pair made intraday high at $1.3327 and low at $1.3272 mark. A sustained close above $1.3283 will drag the parity up towards $1.3360, $1.3382 and $1.3434 mark respec vely. Key support levels are seen at $1.3222, $1.3170, $1.3122, $1.3090, $1.3054, $1.3002 and $1.2950 mark respec vely. Commodity Trend: XAU/USD (GOLD): Gold trades flat on Monday and stabilizes around $1,875 mark. Today pair made intraday high at $1,876 and low at $1,868 mark. A sustained close above $1,902 requires for the upside rally. On the other side, consistent close below $1,861 will check key supports as well. Key support levels are seen around $1,860, $1,852, $1,848, $1,840, $1,822, $1,809 and $1,787 mark respec vely. Key resistances are seen at $1,876, $1,882, $1,887, $1,892, $1,902, $1,917, $1,922, $1,940, $1,947, $1,967, $1,974, $1,982, $1,991, $1,999 and $2,000 marks respec vely. XAG/USD (Silver): Silver moves in s ff boundaries and remains well supported above $24.00 mark. Today pair made intraday high at $24.39 and low at $24.09 mark. A sustained close above $24.78 requires for upside rally. Key support levels are seen at $24.15, $23.90, $23.65, $23.22, $22.90, $22.77 and $22.40 marks respec vely. Key resistances are seen at $24.78, $25.02, $25.22, $25.47, $25.90 and $26.08 marks respec vely.
  3. 3. AUD / USD REPORTFROM:TPGLOBALFXNOVEMBER,2020 Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 0.73197 S1 0.72757 Buy Above 0.73407 0.73567 0.72813 0.72813 0.72643 0.73407 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 0.73334 S2 0.72620 R3 0.73554 S3 0.72400 R4 0.73911 S4 0.72043 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 0.72977
  4. 4. EUR / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75 Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.18819 S1 1.18505 Buy Above 1.18992 1.19146 1.18422 1.18422 1.18239 1.18992 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.18916 S2 1.18408 R3 1.19073 S3 1.18251 R4 1.19327 S4 1.17997 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.18662 NOVEMBER,2020
  5. 5. GBP / USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS Trends Up Trend Moving Average (Period=75) Above MA H 1 RIS (Period=26) Above RIS LEVEL 50 FIBO Levels PIVOT R1 1.32974 S1 1.32538 Buy Above 1.33345 1.33535 1.32716 1.32716 1.32457 1.33345 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.33109 S2 1.32403 R3 1.33327 S3 1.32185 R4 1.33680 S4 1.31832 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.32756 NOVEMBER,2020
  6. 6. USD /CAD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1.30984 S1 1.30540 Buy Above 1.31221 1.31438 1.30450 1.30450 1.30284 1.31221 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1.31121 S2 1.30403 R3 1.31343 S3 1.30181 R4 1.31702 S4 1.29822 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1.30762 Trend Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 NOVEMBER,2020
  7. 7. USD /JPY REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 103.890 S1 103.730 Buy Above 103.950 104.052 103.621 103.621 103.502 103.950 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 103.939 S2 103.681 R3 104.019 S3 103.601 R4 104.148 S4 103.472 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 103.810 Trends Down Trend Moving Average (Period=75) Below MA RIS (Period=26) Below RIS LEVEL 50 NOVEMBER,2020
  8. 8. XAU / [GOLD]USD REPORTFROM:TPGLOBALFX Time Frame: H1 INDICATORS H 1 FIBO Levels PIVOT R1 1877.67 S1 1863.25 Buy Above 1883.21 1889.93 1855.65 1855.65 1850.17 1883.21 – Take Profit – Stop Loss Sell Below – Take Profit – Stop Loss R2 1882.13 S2 1858.79 R3 1889.34 S3 1851.58 R4 S4 1839.91 Conclusion +1 7754 366 970 analysis@tpglobalfx.com 1870.46 Trends Up Trend Moving Average (Period=75) Above MA RIS (Period=26) Above RIS LEVEL 50 1901.01 NOVEMBER,2020
  9. 9. Thank you! Info@tpglobalfx.com www.tpglobalfx.com REPORTFROM:TPGLOBALFX /tpglobalfx /tpglobalfx /tpglobalfx /tpglobalfx that even knowledgeable and well-experienced investors can experience large potential losses as a result of trading in Forex and CFDs. Consequently, investors should be fully aware of all the risks involved when trading Forex and CFDs and accept all the negative consequences associated with such trading. Please always remember that trading in Forex and CFDs might not be suitable for all investors. It is desirable investors who would consider trading, to do so only with money that they can afford to lose. You are also recommended to seek independent financial advice if necessary. The content on this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Apple, the Apple logo, iPod, iPad, iPod touch, and iTunes are trademarks of Apple Inc, registered in the US and other countries. IPhone is a trademark of Apple Inc. App Store is a service mark of Apple Inc. This site is run and operated by – TP Global Services Limited registered by FSA, St. Vincent and the Grenadines with Number 25274 BC 2019 TP Global Services Limited does not offer its services to residents of certain jurisdictions such as USA, and British Columbia. Disclamer: Forex and Contracts for Difference (CFDs) are leveraged products. Trading in these products is highly speculative and involves substantial risk. Please note

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